All articles by Helen Avery – Page 32
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Merrill Lynch loses e136m William Hill mandate
UK – William Hill pension scheme has dropped Merrill Lynch as an asset manager in a switch to specialist managers.
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UK institutions raise net investment by e13bn
UK – Net investment by UK pension funds, insurers and trusts was nine billion pounds (13 billion euros) higher in 2002 than in 2001.
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AstraZeneca’s pension chief to leave
SWEDEN – Michael Runnakko, director of international benefits for drugs firm AstraZeneca, will be leaving to join paper products company Svenska Cellulosa Aktiebolaget.
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Irish exchange chief sets up investment consultancy
IRELAND – The chairman of the Irish Stock Exchange has launched a new investment consultancy called Acuvest.
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Summary of UK Green Paper consultation
UK – With the period of consultation of the UK government’s proposals for pension reform ending today, IPE looks at the suggestions and comments put forward from industry participants since the publication of the Green Paper in December.
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CalPERS names and shames on corporate governance
US – CalPERS, the US’s largest pension fund, has named and shamed those companies on which it will be focusing its corporate governance activism in the coming proxy season.
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AP2 re-tenders e759m Swedish equity mandates
SWEDEN – Andra AP-fonden, the second Swedish national pension fund, is re-tendering three Swedish equity mandates totalling up to seven billion Swedish crowns (759 million euros).
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Germany considers Riester revision
GERMANY – Social security minister Ulla Schmidt is examining how to simplify and boost the take-up of Riester personal pensions, in a U-turn from Chancellor Schroeder’s insistence last year that no changes would be made.
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Italy's Fazio bemoans lack of professionalism
ITALY – The Governor of the Bank of Italy has called for “greater professionalism” among the Italian investment management community.
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Edinburgh plans disposals as profits plunge
UK – Edinburgh Fund Managers is looking to dispose of its private client business and administrative unit following a 57% fall in profits.
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Asset managers expect rise in world equities
EUROPE – IPE’s monthly investment manager survey of expectations of equity and bond market movements reveal asset managers are expecting a rise in equities markets worldwide.
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Gartmore loses out as Torfaen names managers
UK – Torfaen County Council in Wales has appointed managers for four mandates totalling 590 million pounds (869.7 million euros) for its Greater Gwent Pension Fund, resulting in a loss of a UK equity mandate for Gartmore.
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Italy’s Mediolanum profits fall 21%
ITALY – Italian asset manager and insurer Mediolanum saw its net profit fall 21% in 2002.
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Mideast firm tenders equity mandates on IPE-Quest
EUROPE – A Middle Eastern investment company is tendering two equity mandates worth up to 100 million dollars via IPE-Quest.
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HSBC Asset Management hires AXA investment chief
UK – The global chief investment officer of AXA Investment Managers, Chris Cheetham, has left to take up the same role at HSBC Asset Management.
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MLIM loses e441m Fife balanced mandate
UK – Merrill Lynch Investment Managers has seen its 300 million pound (441 million euro) balanced mandate for Fife Council Superannuation Fund in Scotland terminated.
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SSGA wins e591m Kingfisher passive mandate
UK – European retailer Kingfisher has appointed State Street Global Advisors to run a 400 million pound (591 million euro) multi-asset passive mandate for its pension scheme.
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Deutsche hires ex-Invesco investment chief
UK – Deutsche Asset Management has appointed the former deputy chief investment officer of Invesco Asset Management, Bill Barron, as head of global research.
